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nediate Accounting 1.docx Open with Gööglé Docs receivabla 16. Apple Company determined that the net realizable value of Its accounts receivable at December 31, 2020 based on aging of accounts recelvable was P3,160,000. Additional Information for 2020 is as follows: Allowance for doubtful accounts - Jan. 1 Accounts receilvable - December 31 Doubtful accounts written off during the year Doubtful accounts recovered during the year 500,000 4,800,000 320,000 70,000 What should be the doubtful accounts expense a. 390,000 b. 480,000 2020? 520,000 d. 460,000 C. 17. Mulberry Company's allowance for doubtful accounts had a credit balance of P110,000 at December 31, 2019. Mulberry accrues doubt accounts expense for 2020 amounting to P48,000 based on sales. During 2020, Mulberry write off accounts totaling P90,000. The agin accounts receivable indicated that a P345,000 allowance for doubtful accounts was required at December 31, 2020. What amount of doubtful accounts expense should be reported for 2020? a. P325,000 b. P277,000 C. P193,000 d. P48,000 18. Madali Lang Company provided the following data for 2019: Allowance for doubtful accounts, January 1 P 360,000 19,000,000 Sales 1,600,000 400,000 400,000 Sales returns and allowances Sales discounts Accounts written off as uncollectible

nediate Accounting 1.docx Open with Gööglé Docs receivabla 16. Apple Company determined that the net realizable value of Its accounts receivable at December 31, 2020 based on aging of accounts recelvable was P3,160,000. Additional Information for 2020 is as follows: Allowance for doubtful accounts - Jan. 1 Accounts receilvable - December 31 Doubtful accounts written off during the year Doubtful accounts recovered during the year 500,000 4,800,000 320,000 70,000 What should be the doubtful accounts expense a. 390,000 b. 480,000 2020? 520,000 d. 460,000 C. 17. Mulberry Company's allowance for doubtful accounts had a credit balance of P110,000 at December 31, 2019. Mulberry accrues doubt accounts expense for 2020 amounting to P48,000 based on sales. During 2020, Mulberry write off accounts totaling P90,000. The agin accounts receivable indicated that a P345,000 allowance for doubtful accounts was required at December 31, 2020. What amount of doubtful accounts expense should be reported for 2020? a. P325,000 b. P277,000 C. P193,000 d. P48,000 18. Madali Lang Company provided the following data for 2019: Allowance for doubtful accounts, January 1 P 360,000 19,000,000 Sales 1,600,000 400,000 400,000 Sales returns and allowances Sales discounts Accounts written off as uncollectible

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.1DC: Reading 3M Companys Balance Sheet: Accounts Receivable The following current asset appears on the...
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AliExpress Lazada a Agoda.com termediate Accounting 1.docx vabla Open with Google Docs 16. Apple Company determined that the net realizable value of its accounts receivable at December 31, 2020 based on aging of accounts recelvable was P3,160,000. Additional Information for 2020 Is as follows: Allowance for doubtful accounts Jan. 1 Accounts recelvable December 31 Doubtful accounts written off during the year Doubtful accounts recovered during the year 500,000 4,800,000 320,000 70,000 What should be the doubtful accounts expense for 20207 a. 390,000 b. 480,000 c. 520,000 d. 460,000 17. Mulberry Company's allowance for doubtful accounts had a credit balance of P110,000 at December 31, 2019. Mulberry accrues doubtful accounts expense for 2020 amounting to P48,000 based on sales. During 2020, Mulberry write off accounts totaling P90,000. The aging of accounts receivable indicated that a P345,000 allowance for doubtful accounts was required at December 31, 2020. What amount of doubtful accounts expense should be reported for 2020? a. P325,000 b. P277,000 P193,000 d. P48,000 C. 18. Madali Lang Company provided the following data for 2019: P 360,000 19,000,000 1,600,000 400,000 400,000 Allowance for doubtful accounts, January 1 Sales Sales returns and allowances Sales discounts Accounts written off as uncollectible Page Q +
Transcribed Image Text:AliExpress Lazada a Agoda.com termediate Accounting 1.docx vabla Open with Google Docs 16. Apple Company determined that the net realizable value of its accounts receivable at December 31, 2020 based on aging of accounts recelvable was P3,160,000. Additional Information for 2020 Is as follows: Allowance for doubtful accounts Jan. 1 Accounts recelvable December 31 Doubtful accounts written off during the year Doubtful accounts recovered during the year 500,000 4,800,000 320,000 70,000 What should be the doubtful accounts expense for 20207 a. 390,000 b. 480,000 c. 520,000 d. 460,000 17. Mulberry Company's allowance for doubtful accounts had a credit balance of P110,000 at December 31, 2019. Mulberry accrues doubtful accounts expense for 2020 amounting to P48,000 based on sales. During 2020, Mulberry write off accounts totaling P90,000. The aging of accounts receivable indicated that a P345,000 allowance for doubtful accounts was required at December 31, 2020. What amount of doubtful accounts expense should be reported for 2020? a. P325,000 b. P277,000 P193,000 d. P48,000 C. 18. Madali Lang Company provided the following data for 2019: P 360,000 19,000,000 1,600,000 400,000 400,000 Allowance for doubtful accounts, January 1 Sales Sales returns and allowances Sales discounts Accounts written off as uncollectible Page Q +
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